Private equity firm Thoma Bravo finalized a deal to acquire Richardson, Texas-based real estate software data provider RealPage Inc. for $10.2B.
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The transaction includes an all-cash payment plus debt, with RealPage stockholders expected to receive $88.75 in cash per share of common stock.
RealPage's board of directors approved the agreement and is now asking stockholders to support the purchase plan at an upcoming shareholders meeting.
RealPage CEO and chairman Steve Winn is expected to continue leading the firm's DFW-based operations. RealPage is a software provider supporting the multifamily and affordable housing markets and is also a distributor of data that impacts the multifamily sector.
RealPage made headlines in May 2018 when a phishing scam compromised a RealPage email account, allowing hackers to divert $10.5M in funds from the company.
Prior to this purchase announcement, RealPage itself spent years on a buying spree, acquiring software-as-a-service real estate property management platform Buildium for $580M in cash in 2019 and spending $250M to buy leasing platform On-Site Manager in 2017.
The year 2017 was a busy one for RealPage. It also acquired Axiometrics for $75M, Rentlytics for $57M, Rainmaker's Lease Rent Options for $300M and spent $70M buying multifamily utilities and energy management platform American Utilities Management.
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